Norse Energy will not participate in the drilling of the Dende prospect (BCAM-40 block, 10% interest), offshore Brazil. Two of the four partners in the consortium have opted to drill the prospect sole risk. This operation has commenced.
The company viewed the risk of this prospect to be significant and thus recommended the consortium to study the results from the Cravo prospect, drilled earlier in 2009, prior to a decision on Dende.
Consequently, the company will have no exploration costs associated with the drilling of the Dende exploration well.
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